Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: MHCC010073552018
Presented on 20.06.2018
Registered on 01.09.2018
Decided on 05.03.2020
Duration Yrs. M. Days
01 08 15
CNR No.
EXH.
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY
SHORT CAUSE SUIT NO.2346 OF 2018
(COMMERCIAL SUIT NO.330 OF 2020
CANARA BANK, a Banking Company,
constituted and functioning under the
provisions of the Banking Companies
(Acquisition and Transfer of Undertakings
Act, 1970, having their Central Office at
Bangaluru, Pin 560 002, an, Karnataka State
and a Branch office at All saints Home
building 54A dockyard road, Mazagaon
Mumbai – 400 010.
The suit is filed by Mr. Nishant Sinha
Probationary Officer & Power of Attorney
Holder. ...Plaintiffs.
V/s.
1) MR. AFSAR YAQOOB AHMED SHAIKH
PROP. M/S. NIDA TOURS & TRAVELS 26-C-
1 Shed, Ground Floor, A1 Qadri Chawl
MHCC01-007355-2018
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Saboo Siddik Rd, Musafir Khana Fort,
Mumbai – 400 001.
....Defendants.
Appearances:
Ld. Adv Ms. Jyotsna Putran for plaintiff.
None present for defendant.
Suit proceeded ex-parte against defendant.
CORAM : HIS HONOUR JUDGE
SHRI SHANKAR G.BORLEPWAR
(C.R.No.20)
DATED : 5rd March, 2020
J U D G M E N T
(Ex-parte)
1. Plaintiff filed this suit for recovery of amount.
2. In brief, it is contention of the plaintiff that, plaintiff is a
Bank Body Corporate constituted and functioning under the provisions
of the Banking Companies (Acquisition and Transfers of Undertakings)
Act, 1970, having their Head Office at Bangalore and a Branch Office at
All saints Home building 54A, Dockyard road, Mazagaon, Mumbai –
400 010.
3. The plaintiffs is carrying on the business inter alia as
Bankers. The Suit transaction pertains to and arises out of vehicle loan
of Rs.9,50,000/-. The Loan disbursed on dated 31st July 2015 in Loan
A/c. No.0211768000055, granted by the plaintiff to the defendant to
purchase a Brand New Skoda Rapid Ambition 5 seater Car, Registration
No.MH01BT5985, Engine Number-TMBBUFNA4FG016297 costing
Rs.118579/- @ 10.55% (0.55% above the Base Rate. Presently Base
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Rate is 10.00%). Hypothecation of Brand New Skoda Rapid Ambition 5
seater Car, Registration No.MH01BT5985, Engine Number-
TMBBUFNA4FG016297 with plaintiff and loan is repayable in 60 EMIs
of Rs.20,805/- per month. Repayment to commence one month after
the date of first disbursement.
4. The defendant on/ or above 24.07.2015 requested the
plaintiff for the vehicle loan. Plaintiff disbursed the Loan of
Rs.9,50,000/- on 31.07.2015. Defendant executed various documents
for loan.
5. The defendant availed the loan facility from the plaintiff
and did not repay the loan amount. Defendant agreed to pay the loan
amount with interetst @ 10.55% (0.55% above the Base Rate. Presently
Base Rate is 10.00%). Defendant is liable to pay Rs.9,46,131.15 as on
15.6.2018 @ 9.7% p.a. with further interest from 16.06.2018 @ 9.7%
p.a. (rate of interest is fluctuate from time to time according to the
guidlines of the Banking) + 2% overdue interest till the entire and up to
date dues are paid. The documents executed by defendant is dated
30.07.2015. Defendant lastly made payment on 03.05.2017. Therefore,
suit be decreed and defendant be directed to pay an amount of
Rs.9,46,131.15 with interest as prayed for.
6. The suit is proceeded ex-parte against the defendant as per
Roznama dated 16.01.2019.
7. Plaintiff examined himself by filing evidence affidavit at
Exh.4. He relied upon documents which are filed at Exh.4A.
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8. I have heard Learned Advocate appearing for the plaintiff.
9. Plaintiff supported his contention made in the plaint by
filing evidence affidavit. He states that defendant on/ or about
24.7.2015 requested the plaintiff for vehicle loan and the plaintiff
disburse the loan of Rs.9,50,000/- on 31.07.2015. He relied upon
following documents.
Ex. Sr.No. Particular
6 1 Power of attorney holder dt. 24/04/2018.
7 2 Application form dt. 24/07/2015.
8 3 Loan application and interview cum appraisal form for
dt.30/07/2015.
9 4 Letter of the deft for requesting for the loan
dt.30/07/2015.
10 5 Sanction letter dt. 30/07/2015.
11 6 Letter of undertaking re loan / advance dt.30/07/2015
12 7 Deed of Hypothecation Re-Vehicle dt.30/07/2015.
13 8 Plaintiff advocate notice dt. 26/05/2018 and postal
receipt and acknowledgement cared of the deft.
14 9 RC copy and invoice dt.27/06/2015.
15 10 Statement of account.
16 11 IT Certificate.
10. PW 1 deposed in evidence affidavit Exh.4A that plaintiff
has sold Brand New Skoda Rapid Ambition 5 Seater Car, Registration
No.MH01BT5985, Engine Number-TMBBUFNA4FG016297 dated
31.08.2018 by auction for Rs.1,15,000/-. The plaintiff Bank received
the said amount of Rs.1,15,000/- on 31.08.2018. The said vehicle was
hypothecated by defendant in favour of the plaintiff.
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11. It is prayed that defendant to pay Rs.9,46,131.15 as on
15.06.2018 @ 9.7% p.a. with further interest from 16.06.2018 @ 9.7%
p.a. (rate of interest is fluctuate from time to time according to the
guidlines of the Banking) + 2% overdue interest till the realization of
full amount. According to the P.W.1 Bank has sold the said vehicle in
auction on 31.8.2018 and received amount of Rs.1,15,000/- on
31.8.2018 and credited the same in the account of defendant. Perused
the statement of Account Exh.17. It shows that amount of
Rs.1,15,000/- is credited in the account of defendant on 31.08.2018 in
respect of sale of the said vehicle. The debit balance shown in the
statement of account Exh.17 as over due amount on 10.06.2019 is
Rs.9,32,477.15.
12. Perused Exh.7. It is application form dated 24.07.2015.
Perused letter of defendant for loan dated 30.07.2015 Exh.9. Perused
sanctioned letter dated 30.07.2015 Exh.10. Perused letter of
undertaking re-loan / advance dated 30/07/2015 Exh.11. Perused
Statement of Account Exh.15 and IT Certificate Exh.16. It appears from
the documents defendant availed the said amount but did not repay the
same.
13. There is nothing on record to disbelieve the contention of
the plaintiff that defendant availed the loan amount and did not pay the
same. Hence suit is liable to be decreed partly. Hence, I proceed to
pass the following order.
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ORDER
The suit is partly decreed with costs as under -
1. Defendant is hereby directed to pay to the plaintiff sum of
Rs.9,32,477.15/- (Rs. Nine lakhs, Thirty Two Thousand, Four Hundred
seventy seven and Fifteen paise) along with further interest at the rate
of 9.07% p.a. + 2% over due interest from 11-06-2019 till it's full
realisation.
2. Decree be drawn up accordingly.
( SHANKAR G. BORLEPWAR )
Judge, (C.R.No.20)
Dt.: 05/03/2020 City Civil Court, Gr. MUMBAI
Dictated on : 05/03/2020
Transcribed on : 18/03/2020
Checked on : 21/03/2020.
Due to Covid-19 lockdown, the
Court was not functioning and
therefore Signed on : 12/06/2020.
( SHANKAR G. BORLEPWAR )
Judge, (C.R.No.20)
City Civil Court, Gr. MUMBAI
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“CERTIFIED TOBE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
Due to Covid-19 lockdown, the
Court was not functioning and
therefore upload on
13.06.2020 at 02.10 p.m.
UPLOAD DATE AND TIME
(VARSHA U. PAWAR)
NAME OF STENOGRAPHER
Name of the Judge HHJ SHRI S. G.
BORLEPWAR
(COURT ROOM NO.20)
Date of pronouncement of judgment/order 05.03.2020
Judgment/order signed by P.O. on 12.06.2020
Judgment/order uploaded on 13.06.2020
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